Canaccord Genuity downgraded MAP Pharmaceuticals (NASDAQ: MAPP) from Buy to Hold with a price target of $25 on of Allergan takeover.

"We’re still surprised by the timing though more may be known when filings come out. At this point we think the deal price is reasonable and for MAPP shareholders it eliminates FDA risk assuming a pre-PDUFA closing (April 15) and in our view for AGN
makes another bidder unlikely."

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